On Wednesday, March 12th, the crypto market witnessed low volatility trading, as evidenced by Bitcoin’s neutral candle formation at $84,000. Despite bullish lower-than-expected U.S. CPI data, the prevailing selling pressure continues to limit the growth potential of the majority of altcoins including ENA. As the falling Ethena price seeks support at a firm accumulation zone the institutional buying interest hints potential for a bullish reversal.
Key Highlights:
- MEXC Ventures Invests $36M in Ethena – $16M in ENA and $20M in USDe, hinting at institutional confidence.
- A rectangle pattern drives the current consolidation trend in Ethena price within the $0.48 and $0.34 range.
- The 20-day EMA slope acts as dynamic resistance against ENA price recovery.
MEXC Ventures Injects $36M into Ethena
Amid a correction trend in crypto, MEXC Ventures has made a significant investment of $36 million in Ethena. The purchase includes a $16 million acquisition of Ethena’s native token, ENA, and $20 million in USDe, Ethena’s synthetic dollar.
This investment underscores the growing interest in Ethena, a protocol that has gained traction for its innovative approach to decentralized stable assets. Generally, an accumulation trend from whales/institutions has led to a major market bottom and sustainable recovery.
Ethena Price Consolidation – Key Levels to Watch
Ethena price analysis daily shows its prevailing downtrend has shifted sideways to seek the support of $0.34. Since mid-February 2025, the coin price has been consolidating between the horizontal levels of $0.48 and $0.34.
The coin price bounced several times from the aforementioned level indicating no clear initiation from buyers or sellers. With a four-day downfall, the coin price has recently plunged from $0.48 to $0.37 current trading value, registering a 22% loss.
If the trend continues, the ENA price could retest $0.34 support and recuperate the bullish momentum. The potential reversal must breach the overhead resistance to confirm the recovery moment.
On the contrary, the downsloping trend of daily EMAs (20, 50, 100, and 200) indicates the broader trend is bearish and the path to least resistance is down.
If the sellers breach the $0.34 support, the bullish thesis will get invalidated and the price may enter a prolonged downtrend.
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